If you work for a company in Florida and need to hire an outside vendor to perform some work for your company, you may well need to share sensitive business or industry information with that vendor in order for them to do the work you want them to do. Certainly, this sounds a bit concerning as the information you would share must be kept in confidence and not used incorrectly. This is what a nondisclosure agreement is for.
Most any business in Florida has some sort of competition and that makes it understandable that owners and management teams spend a good deal of energy on finding ways for their companies to outdo their competitors. This is part and parcel of a capitalist society and economy. However, there is a line between what is a reasonable and legal competitive advantage and what is an unreasonable and illegal competitive advantage.
Many people in Florida have dreams of owning their own businesses. In some cases, this may be achieved by working with another person and establishing a partnership. However, it is important that entrepreneurs proceed with caution before signing up to partner with another person as there may be serious legal and financial ramifications if a partnership does not work out as intended or hoped.
Most in Daytona Beach may anticipate that the business world will be cutthroat and competitive. Yet simply because you and your company are in a state of constant competition with your competitors does not mean that you (and them) are not required to follow ethical practice guidelines. Some might hear the term "unfair competition" and roll their eyes, believing it to only be an accusation made by companies that are falling behind in their markets. Yet several business representatives often come to us here at Smith Bigman Brock asking for specific examples of unfair competitive practices.
A company's most valuable asset is its workforce. Its employees may be the reason behind its reputation and brand loyalty, which ultimately allows it to compete in its market. For this reason, it may not be surprising to hear that a local business in Daytona Beach is willing to go so far as to litigate in order to ensure that its employees are not poached away by competitors (or in answer to unfair and/or unethical recruiting practices).
Of all of the assets that businesses in Daytona Beach value, chief among them has to be their employees. This is why if you do happen to lose an employee, your greatest fear may be that they will either immediately go to a competitor and share some of your valuable trade secrets, or try and poach some of your other employees. Many clients come to our team here at Smith Bigman Brock convinced that a non-compete agreement will prevent this, yet that depends on the nature of the agreement. If its deemed to be too restrictive, the court may actually rule that it is non-enforceable.
Much of the stability of your business in Daytona Beach comes from the confidence in knowing that your clients cannot simply walk away from your contractual agreements. If they do want to cancel a contract, they typically need to have cause to do so. Yet are there exceptions to this rule?
In our litigious society, every business must remain wary of lawsuits. No company wants to face a time-consuming, expensive, image-damaging lawsuit. While every business’s level of risk varies, litigation remains a constant threat for most companies.
As a business owner, you may have to head to court over any number of issues. From trade secret theft to other matters which may involve competitors, business partners or customers, business litigation has many causes. However, some lawsuits are the result of an issue involving a staff member or a group of employees. It is extremely important for businesses to handle these cases with special care since the outcome of the suit could have a ripple effect felt throughout the company. In Daytona Beach and across Florida, the way in which a business owner handles a lawsuit involving staff members could even affect the future of the company.